PayPal plans to acquire cryptocurrency startup Curv

CHICAGO, Jan. 20, 2023 — Architect Financial Technologies Inc. (“Architect”) announced the completion of a USD 5 million pre-product funding round to build adaptive infrastructure technologies that will allow institutions to trade across controlled and decentralized digital asset marketplaces. 

 Coinbase Ventures, Circle Ventures, SV Angel, P2P, Third Kind Venture Capital,  SALT Fund and Motivate Venture Capital are among the investors in the round, as are Shari Glazer and Anthony Scaramucci.

Architect will provide a safe, powerful, and customized trading infrastructure to institutions and big traders while also interacting with qualified crypto custodians and self-hosted wallets. The main software offering will include standardized risk, compliance, market data, and development and visualization tools. Architect will assist enterprises in negotiating the rising technological complexity of digital asset market structure through cross-venue aggregation, platform flexibility, and open-source design.

Architect was created by Brett Harrison, a financial scientist and former executive of FTX US, Citadel Securities, and Jane Street. The funds will be used to form a competent team and commence product development, with an initial launch planned for the second quarter of 2023.

Harrison had this to say about the news:

“I understand the technological challenges that the current crypto market structure poses to institutions seeking to trade safely at scale, having previously spent eleven years developing algorithmic trading software for global equities and derivatives markets. I am certain that these obstacles can be solved by infrastructure development that stresses security, scalability, self-custody, and adaptability.”

He went on to say: “My investment partners contribute a diverse set of skills, including digital asset exchange operations, decentralized protocol development, stablecoin issuance, and traditional financial services and trading. I’m really thrilled to create this firm with them and the Architect team.”

More about the startup:

Architect is a technological business that creates institutional-grade trading infrastructure for global digital asset exchanges. Architect provides traders with configurable infrastructure that reimagines digital asset access to international markets. One of the project’s aims is to build institutional-grade infrastructure to connect various crypto venues across controlled and decentralized exchanges.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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